Roll of surcharge in service tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2015 GOOD EVENING TO ALL EXPERT,
TODAY WE READ IN DAINIK BHASKER THAT SERVICE TAX RATE 14% INCLUSIVE EDUCATION CESS AND ALSO ADDITIONAL 2% SURCHARGE.WHAT IS THE MEANS OF THIS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

28 February 2015 Service tax is at 14% all inclusive. 2% surcharge is levied as income tax on those having income 1 crore and above in view of abolition of wealth tax.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2015 sir u r right but i read in dainik bhasker news paper that service tax 14 % and additional surcharge 2% and also give example of a restaurent bill
restaurent bill=10000
service tax @14%=1400
then surcharge2%= 280
total= 11680
sir u can check i also not understand this solution so please help me.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

28 February 2015 The news of dainik basker is wrong. 2% surcharge on the above working not applicable.
Read the news of Indian express.
“To facilitate a smooth transition to levy of tax on services by both the centre and the states… the service tax rate is being increased from 12 per cent plus education cesses to 14 per cent. The education cess and secondary and higher education cess shall be subsumed in the new service tax rate. The revised rate shall come into effect from a date to be notified,” Finance Minister Arun Jaitley said while presenting the Budget 2015-16.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2015 SIR YE TO GALAT BAAT HAIN NA NEWS PAPER WALO KI WRONG INFORMATION DE RAHE HAIN

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now